The Bankruptcy Of The Planet Accelerates – 24 Nations Are Currently Facing A Debt Crisis ~ & the har~vesting of the Planet ...goes on ?

There has been so much attention on Greece in recent weeks, but the
truth is that Greece represents only a very tiny fraction of an
unprecedented global debt bomb which threatens to explode at any
moment. As you are about to see, there are 24 nations that are
currently facing a full-blown debt crisis, and there are 14 more that
are rapidly heading toward one. Right now, the debt to GDP ratio for
the entire planet is up to an all-time record high of 286 percent,
and globally there is approximately 200 TRILLION dollars of debt on the
books. That breaks down to about $28,000 of debt for every man, woman
and child on the entire planet. And since close to half of the
population of the world lives on less than 10 dollars a day, there is no
way that all of this debt can ever be repaid. The only “solution”
under our current system is to kick the can down the road for as long as
we can until this colossal debt pyramid finally collapses in upon
itself.As we are seeing in Greece, you can eventually accumulate so much
debt that there is literally no way out. The other European nations are
attempting to find a way to give Greece a third bailout,
but that is like paying one credit card with another credit card
because virtually everyone in Europe is absolutely drowning in debt.Even if some “permanent solution” could be crafted for Greece, that
would only solve a very small fraction of the overall problem that we
are facing. The nations of the world have never been in this much debt
before, and it gets worse with each passing day.According to a new report from the Jubilee Debt Campaign, there are currently 24 countries in the world that are facing a full-blown debt crisis…■ Armenia■ Belize■ Costa Rica■ Croatia■ Cyprus■ Dominican Republic■ El Salvador■ The Gambia■ Greece■ Grenada■ Ireland■ Jamaica■ Lebanon■ Macedonia■ Marshall Islands■ Montenegro■ Portugal■ Spain■ Sri Lanka■ St Vincent and the Grenadines■ Tunisia■ Ukraine■ Sudan■ ZimbabweAnd there are another 14 nations that are right on the verge of one…■ Bhutan■ Cape Verde■ Dominica■ Ethiopia■ Ghana■ Laos■ Mauritania■ Mongolia■ Mozambique■ Samoa■ Sao Tome e Principe■ Senegal■ Tanzania■ UgandaSo what should be done about this?Should we have the “wealthy” countries bail all of them out?Well, the truth is that the “wealthy” countries are some of the
biggest debt offenders of all. Just consider the United States. Our
national debt has more than doubled since 2007, and at this point it has
gotten so large that it is mathematically impossible to pay it off.Europe is in similar shape. Members of the eurozone are trying to
cobble together a “bailout package” for Greece, but the truth is that
most of them will soon need bailouts too…

All of those countries will come knocking asking for help
at some point. The fact is that their Debt to GDP levels have soared
since the EU nearly collapsed in 2012.Spain’s Debt to GDP has risen from 69% to 98%. Italy’s Debt to GDP has risen from 116% to 132%. France’s has risen from 85% to 95%.

In addition to Spain, Italy and France, let us not forget Belgium
(106 percent debt to GDP), Ireland (109 debt to GDP) and Portugal (130
debt to GDP).Once all of these dominoes start falling, the consequences for our massively overleveraged global financial system will be absolutely catastrophic…

Spain has over $1.0 trillion in debt outstanding… and Italy has €2.6 trillion. These
bonds are backstopping tens of trillions of Euros’ worth of derivatives
trades. A haircut or debt forgiveness for them would trigger systemic
failure in Europe.EU banks as a whole are leveraged at 26-to-1. At these leverage levels, even a 4% drop in asset prices wipes out ALL of your capital. And any haircut of Greek, Spanish, Italian and French debt would be a lot more than 4%.

Things in Asia look quite ominous as well.According to Bloomberg, debt levels in China have risen to levels never recorded before…

While China’s economic expansion beat analysts’ forecasts
in the second quarter, the country’s debt levels increased at an even
faster pace.Outstanding loans for companies and households stood at a record207 percent of gross domestic product at the end of June, up from125 percent in 2008, data compiled by Bloomberg show.

And remember, that doesn’t even include government debt. When you
throw all forms of debt into the mix, the overall debt to GDP number for
China is rapidly approaching 300 percent.In Japan, things are even worse. The government debt to GDP ratio in Japan is now up to an astounding 230 percent.
That number has gotten so high that it is hard to believe that it could
possibly be true. At some point an implosion is coming in Japan which
is going to shock the world.Of course the same thing could be said about the entire planet. Yes,
national governments and central banks have been attempting to kick the
can down the road for as long as possible, but everyone knows that this
is not going to end well.And when things do really start falling apart, it will be unlike
anything that we have ever seen before. Just consider what Egon von
Greyerz recently told King World News…

Eric, there are now more problem areas in the world,
rather than stable situations. No major nation in the West can repay its
debts. The same is true for Japan and most of the emerging markets.
Europe is a failed experiment for socialism and deficit spending. China
is a massive bubble, in terms of its stock markets, property markets and
shadow banking system. Japan is also a basket case and the U.S. is the
most indebted country in the world and has lived above its means for
over 50 years.So we will see twin $200 trillion debt and $1.5 quadrillion derivatives implosions.
That will lead to the most historic wealth destruction ever in global
stock, with bond and property markets declining at least 75 – 95 percent. World trade will also contract dramatically and we will see massive hardship across the globe.